Eurobio Scientific: Towards 100 million euros of net cash at the end of the year
A few weeks ago, the leading independent distributor of PCR tests in France reported record results for its fiscal year 2020, but as expected the company was cautious for the current year. As vaccination progresses rapidly among the French population, the need for PCR testing will become much less strong and the company's sales will decline. Nevertheless, as at today, COVID's activity remains high and the company continues to generate significant cash flow, with net cash expected to be close to 100 million euros at the end of the year.
Eurobio Scientific SA, formerly Diaxonhit, is a France-based biotechnology company engaged in the field of in-vitro diagnostic. It is engaged in activities ranging from discovery to the commercialization of specialty diagnostic products. The Company owns a portfolio of diagnostic products in three specialty areas: infectious diseases; Alzheimer's disease, and cancer. It consists of Tetanos Quick Stick (TQS), which is an unitary test enabling to determine the tetanus vaccination status. It has a portfolio of in-house and co-developed products, including AclarusDx (a blood-based test for the detection of biomarkers specific for Alzheimer's disease). The portfolio includes BJI Inoplex for prosthetic infections and EHT Dx14 for breast cancer (both in validation phase). The co-developed products include research programs for the identification of predictive biomarkers of response for anti-HER2 and anti-angiogenic therapies, among others. It operates through Genbio and Eurobio Capforce Plus.
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